No matter where you focus, you'll have company.I buy single family homes in one target zip code, drilling down into a select few neighborhoods by a development I believe is going to create extreme appreciation and elevate the type of tenant looking to occupy the walkable dwellings.

Even with the "instant equity" from appraisal, you still only have 11% equity.

Best is to find that slight fixer with some value added. ie: CA zoning laws are allowing ADU's [accessory dwelling units] and even more aggressive laws are coming out next yearI take it even one step further and rent furnished rentals to nurses and other professionals.

try Dwell Home Market in Tampa. 

@Sasha Fukuda - section 8 in most areas has a long waiting list of people who want to get the vouchers, so that’s not an instant solution for most people who have lost their jobs.

My banker said it's iffy since the 2nd dwelling is not an ADU. 

The vacant dwelling policy is more static. 

Hi there,We purchased a roughly 2.5k SF house in the Sacramento area in an RD-10 zone.The house is built in such a way that it would be very logical to split in to two units and rent them as two parts of a duplex.The property meets all the criteria of a multi family dwelling in terms of square footage and setbacks and checks with everything we could find in the zoning book.

Before considering building an accessory dwelling unit in California I would definitely look in into the SB9 single lot split or multi family option.

You can go to the planning dept. and find out if they will allow an ADU (Auxiliary Dwelling Unit) on a single family property?